Check my work 6 Hutto Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. 10 points Direct materials (15 lbs. @ $4 per lb.) Direct labor (3 hrs. @ $15 per hr.) $60 45 During May the company incurred the following actual costs to produce 9,000 units. eBook Direct materials (138,000 lbs. @ $3.75 per lb.) Direct labor (31,000 hrs. @ $15.10 per hr.). $517,500 468,100 Hint AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Print References AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Actual Cost Standard Cost AQ AP AQ SQ SP SP S 4.00 138,000 $ 3.75 138,000 X $ 4.00 S 552,000 S 517,5001 s 34,500 S 0 $34.500 Favorable 0 (Unfavorable Favorable ed 1 Required 2 >